Coach 2014 Annual Report Download - page 61

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TABLE OF CONTENTS







June 29,
2013
June 30,
2012
 
Net income  
$ 1,034,420
$ 1,038,910
Adjustments to reconcile net income to net cash from operating activities: 
Depreciation and amortization 
162,987
132,909
Provision for bad debt 
(529)
595
Share-based compensation 
120,460
107,511
Excess tax benefit from share-based compensation 
(26,830)
(68,057)
Transformation, restructuring and other related charges; sale of Reed Krakoff business 
25,740
—
Deferred income taxes 
(6,520)
27,568
Other noncash credits, net 
1,157
217
Changes in operating assets and liabilities: 
Trade accounts receivable 
(14,231)
(26,565)
Inventories 
(38,630)
(71,680)
Other liabilities 
(12,974)
(17,581)
Accounts payable 
30,394
36,494
Accrued liabilities 
98,865
84,180
Other balance sheet changes, net 
39,665
(22,812)
 
1,413,974
1,221,689
 
Acquisition of interest in equity method investment 
(93,930)
—
Acquisitions (net of cash acquired) and related advances to distributors 
(53,337)
(53,235)
Purchases of property and equipment 
(241,353)
(184,309)
Loans to related parties
(11,088)
(24,138)
Purchases of investments 
(170,792)
—
Proceeds from maturities and sales of investments 
—
2,256
 
(570,500)
(259,426)
 
Dividend payments 
(339,724)
(260,276)
Repurchase of common stock 
(400,000)
(700,000)
Repayment of debt 
(22,375)
(795)
Proceeds from share-based awards 
80,436
185,071
Borrowings under revolving credit facility 
—
—
Repayment of revolving credit facility 
—
—
Taxes paid to net settle share-based awards 
(34,273)
(33,938)
Excess tax benefit from share-based compensation 
26,830
68,057
Acquisition-related payment of contingent consideration 
—
—
 
(689,106)
(741,881)
Effect of exchange rate changes on cash and cash equivalents 
(8,798)
(2,949)
 
145,570
217,433
 
917,215
699,782
  
$ 1,062,785
$ 917,215
Supplemental information: 
Cash paid for income taxes  
$ 445,043
$ 438,884
Cash paid for interest  
$ 1,341
$ 1,793
Noncash investing activity – property and equipment obligations  
$ 34,311
$ 31,363
See accompanying Notes to Consolidated Financial Statements.
59